Czech Republic GDP Q3 2022

Czech Republic

Czech Republic: Economy expands at softer pace in Q3

November 4, 2022

The economy expanded 1.6% in seasonally adjusted year-on-year terms in Q3, following Q2’s 3.7% increase. The war in Ukraine weighed on the economy, affecting supply chains, energy prices and the economic outlook. Meanwhile, output decreased 0.4% on a seasonally adjusted quarter-on-quarter basis in Q3, contrasting the 0.5% rise recorded in Q2.

External demand and capital spending made positive contributions to year-on-year growth in Q3, while consumer spending shrank. A detailed breakdown is scheduled to be released on 2 December.

FocusEconomics Consensus Forecast panelists expect the economy to expand 0.9% in 2023, which is down 0.2 percentage points from the previous month’s projection, and grow 3.2% in 2024.


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